Inventories and natural gas in storage

9 Months Ended

Sep. 30, 2023

Natural gas in storage for the Company's regulated operations is generally valued at lower of cost or market using the last-in, first-out method or lower of cost or net realizable value using the average cost or first-in, first-out method. The majority of all other inventories are valued at the lower of cost or net realizable value using the average cost method. The portion of the cost of natural gas in storage expected to be used within 12 months was included in inventories. Inventories on the Consolidated Balance Sheets were as follows:


	September 30, 2023		September 30, 2022		December 31, 2022
	(In thousands)
Merchandise for resale	36,815		26,538		27,910
Natural gas in storage (current)	29,821		48,532		22,533
Materials and supplies	$	7,824	$	9,917	$	6,846
Other	5,775		4,827		6,959
Total	$	80,235	$	89,814	$	64,248

The remainder of natural gas in storage, which largely represents the cost of gas required to maintain pressure levels for normal operating purposes, was included in noncurrent assets - other and was $47.4 million, $47.2 million and $47.5 million at September 30, 2023, September 30, 2022 and December 31, 2022, respectively.